Chicago area-based FreedomRoads LLC today (Aug. 31) announced it has closed a $404.5 million loan syndication, consisting of an amended floorplan credit facility and a revolving credit facility.
According to a press release, the amended floorplan and revolving credit facilities will provide FreedomRoads, a national network of RV dealers, with added flexibility to support future growth and exceed the $2 billion sales mark.
The transaction was led by J. P. Morgan Securities Inc., JPMorgan Chase Bank N.A. and Bank of America N.A. FreedomRoads said six additional financial institutions participated in the syndication.
“The amended floorplan facility and new revolving credit facility provide FreedomRoads with the flexibility and capacity to continue to execute our operating strategy,” said Roger Nuttall, FreedomRoads executive vice president and CFO. “The terms and conditions of the amended facility allow the company to meet its growth objectives and further solidify our position as the industry leader.”